1. Reducing the Transaction cost of goods traded by dealing adequately with sanitary and phytosanitary requirements by Hesdie Grauwde, Policy officer, FAO Sub-Regional Office, Barbados
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15. Economic impact of sanitary requirements Trade loss Transaction cost “ Response” “ Solution” Cost for firm Detained shipment Markets restricted Volumes, prices drop Loss of market position Scan foreign regulations Compliance costs: products, labels, tests, certification Negotiation Second-best business solutions Cost for govern-ment, industry organization -- Prepare compliance, certificates Negotiations Inspections Standard-setting Dispute settlement